SEC worked with RAND Corporation to test the efficacy of its mock Customer Relationship Summary form, a key part of the broader Regulation Best Interest proposal; the positive findings differ from reports commissioned by investment industry advocacy groups.

"As we take a moment to celebrate the strong foundation and accomplishments of the system, let’s also recognize the opportunities we have to help even more employers and workers take advantage of important 401(k) benefits,” said Charlie Nelson, CEO of Retirement and Employee Benefits at Voya Financial, at an event marking the milestone.

Another district court ruling in the matter of Alas vs. AT&T sides in part with the plaintiffs and in part with the defendants, making yet another amended complaint likely even before any allegations can advance to trial.

“Because funds bear the cost of shareholder report delivery, intermediaries have little incentive to negotiate lower delivery rates with the fulfillment vendor or otherwise control costs,” the Investment Company Institute argues.

Putnam Investments has asked for a stay in a case accusing it of self-dealing in its 401(k) plan so it can petition the U.S. Supreme Court regarding whether a plaintiff or an accused fiduciary has the burden of proving whether or not an ERISA fiduciary breach caused a loss.

Great retirement plans can be found in all industries and geographies, says Mel Hooker at Wells Fargo; what unites them is a sense of purpose and an ability for the employer to see the strategic importance of quality benefits.

The Department of Labor has published employee benefit plan compliance guidance and relief for victims of Hurricanes Florence and Michael, recognizing that plan fiduciaries and employers may encounter unavoidable issues with ERISA compliance.

Those industry stakeholders disappointed by the limited scope of the proposed regulations can take heart in the fact that DOL staff calls for detailed commentary on ways the proposal could be expanded, including into the area of “open MEPs” and “corporate MEPs.”

During a couple’s divorce proceedings, a property settlement awarded the ex-husband half of the ex-wife’s 401(k) balance and the entire amount in her individual retirement account (IRA), but no (QDRO) was ever executed and the ex-husband has undertaken no other action to obtain possession of the assets.

While the Securities and Exchange Commission is firmly controlled by Republican-appointed members, the last Obama-era commissioner says she hopes to find room for compromise to address the pressing issues facing U.S. investors.

MARKET MIRROR

Tuesday, the Dow increased 82.66 points (0.35%) to 23,675.64, the NASDAQ closed 30.18 points (0.45%) higher at 6,783.91, and the S&P 500 was virtually unchanged at 2,546.16. The Russell 2000 was down less than one point (0.07%) at 1,377.18, and the Wilshire 5000 was down 1.90 points (0.01%) at 26,158.25.

The price of the 10-year Treasury note increased 11/32, bringing its yield down to 2.819%. The price of the 30-year Treasury bond climbed 25/32, decreasing its yield to 3.075%.